Maverick financing - what APR to expect?

[Utjazz]

While waiting for Maverick, what kind of financing can one expect? Are there still low rates such as 0.9% or 1.9% etc. Does Ford give low Maverick rates? Just trying to see maybe how much $ down I may want to do. Appreciate any info. Thanks

Sponsored

 

[jsus]

See:
https://www.mavericktruckclub.com/forum/threads/what-financing-apr-rates-are-you-seeing.26836/

https://www.mavericktruckclub.com/forum/threads/apr-rate-lock-private-offer.26871/

https://www.mavericktruckclub.com/f...est-rate-for-rolled-over-2023-maverick.24480/

 

[IwannaMav]

Ford credit does not currently have any interest deals for the Maverick. According to the build and price page the payment estimator is showing 7%. I would suggest shopping around with a credit union if your are a member or have one available locally. Unfortunately the glory days of 0%, .9% and the like are over for now.

 

[Utjazz]

Thanks for the comments. Appreciate it!

 

[PA-Homesteader]

Honest Question

Does it matter what APR you get if you plan on paying it off in 6-10 months?

My plan is to put 50% down, then finance the rest. And to pay it off in 6-10 months

Should I be concerned about what my APR is with this approach?

 

[ZachSD]

Honest Question

Does it matter what APR you get if you plan on paying it off in 6-10 months?

My plan is to put 50% down, then finance the rest. And to pay it off in 6-10 months

Should I be concerned about what my APR is with this approach?

You and I have a very similar game plan. I intend to put as close to 50% down as possible, and I can pay the rest off well within a year. For this reason, I'm unconcerned about APR; it will be pennies on the dollar by the time it's paid off. The ones who should be concerned are those putting little-to-no down with payment plans in the 36, 48 and god forbid 60 month ranges to lower their overall monthly payment. They'll hurt the most on the interest.

 

[PA-Homesteader]

You and I have a very similar game plan. I intend to put as close to 50% down as possible, and I can pay the rest off well within a year. For this reason, I'm unconcerned about APR; it will be pennies on the dollar by the time it's paid off. The ones who should be concerned are those putting little-to-no down with payment plans in the 36, 48 and god forbid 60 month ranges to lower their overall monthly payment. They'll hurt the most on the interest.

Kinda what I was thinking. I'm probably going to just finance with the dealer (ordered with Long McArthur) because they offer up to $1000 for travel/shipping expenses.

 

[Fibrepunk]

Honest Question

Does it matter what APR you get if you plan on paying it off in 6-10 months?

My plan is to put 50% down, then finance the rest. And to pay it off in 6-10 months

Should I be concerned about what my APR is with this approach?

It always matter. Say you are financing $15,000 and you plan to pay it off between 6-10 months.

-- 7.5% interest rate
Payment of $2,500 per month for 6 months, and then $337.12 for the 7th month, last payment.

Payment of $1,500 per month for 10 months, and then $538.67 for the 11th month, last payment.

-- 3.0% interest rate
Payment of $2,500 per month for 6 months, and then $132.67 for the 7th month, last payment.

Payment of $1,500 per month for 10 months, and then $209.87 for the 11th month, last payment.

So, now ask yourself, does it matter? 7.5% vs 3.0%...

 

[gte105u]

Looks like this is one of the more recent apr threads so I'll resurrect it.

Did an inquiry with USAA for pre approval as baseline going to dealer. Excellent credit, 25% down so quoted mid 5%. Will go there and refinance when rates drop unless dealer can beat it.

Then I get an email from Experian my credit report was updated. I'm like "let's see what this pull did to it", figuring it dropped a point to two. It went up 7 points... Credit reports are so unpredictable.

Any hope the dealer will beat mid 5s? I told them sub 5 was the number to beat so we'll see.

 

[22MavXLT]

When talking to my local dealer, the finance lady there (who is a friend by the way) told me they are seeing at best 6.99 and as high as 8. So I inquired at a local credit union I have used in the past to see what they are offering and they told me 5% for up to 72 months at 125% loan value. Meaning if you trade and have negative equity they will cover it. So there are better rates out there than the dealers will get. You just have to be willing to put in the work for yourself. I am still trying other banks/credit unions but even my own credit union is at 6.4%. My truck should be here sometime in March or April so I am hoping for a lil drop in rates. I know it probably won't happen, but one can hope, right?

 

[BradGroux]

Delivery is taking so long I was able to save up enough to pay cash... which I am thankful for now with the higher interest rates. 7% or more with excellent credit and 20% downpayment or more is just madness to me.

Sponsored